Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, August 5, 1994 TAG: 9408050110
SECTION: BUSINESS PAGE: A5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Paper Alley Inc., operator of a stationery and gift shop on the Roanoke City Market, and Alice Flynn, the shop's display designer, have placed second in the International Window Display Contest. Paper Alley's winning entry was a beach scene.
The contest, conducted by Howda Disginz Inc. of Newbury, Mass., attracted entries from 27 states and three foreign countries. The winner was a large store in Michigan, according to Paper Alley's owner, Gale Sowers.
-Staff report
Fed-Mogul puzzled by stock-price drop
Federal-Mogul Corp., Southfield, Mich., operator of an engine bearings plant in Blacksburg, said Thursday it knew of no reason for the sudden drop in its stock price Thursday.
Merrill Lynch Co. analyst Harvey Heinbach downgraded his long-term ratings on several auto parts suppliers and the three major U.S. auto manufacturers. Federal-Mogul said it has limited exposure to the domestic auto industry, noting 65 percent of its sales are to the global aftermarket auto parts industry.
Federal-Mogul common stock, traded on the New York Stock Exchange, closed Thursday at $26.121/2, down $1 a share from Wednesday.
-Staff report
Briefly ...
Medical Facilities of America, based in Roanoke, has chosen The Maddox Agency, a Roanoke and Richmond advertising, marketing and communications firm, to handle communications for its 31 nursing homes in Virginia.
Ruddick Corp. of Charlotte, N.C., said it will expand its Harris Teeter grocery store chain into southeast Virginia next year. The company will break ground on a Virginia Beach store in January, followed in February by a store in Newport News. Harris Teeter operates 141 stores in the Southeast, including the Roanoke Valley.
Earnings ...
Mod-U-Kraf Homes Inc., Rocky Mount manufacturer of modular housing, reported second-quarter net income of $82,441, or 10 cents per share, compared with $64,350, or 9 cents per share, a year earlier. Sales were $2.3 million, up from $2 million.
Western Sizzlin Corp., a Nashville, Tenn.-based chain of family steak restaurants controlled since late last year by Virginia investors Vic Foti of Roanoke, John Wingo of Blacksburg, Charles Mantooth of Danville, A.V. Grantham of Richmond and other franchisees, reported revenues of $1.9 million and net income of $271,000, or 6 cents per share, for its second quarter ended July 10. Revenues for six months were $4.5 million, with net income of $585,000, or 12 cents per share. Year-earlier results were not reported.
Hanover Direct Inc., Weehawken, N.J., mail-order merchant operating Tweeds and Domestications centers in Roanoke County, reported net income of $2.8 million, or 3 cents per share, for its second quarter ended July 3, compared with year-earlier $4.4 million, or 5 cents per share. Revenues were $185.1 million, up from $144.3 million. For the first six months, net income was $6 million, or 6 cents per share, down from $6.8 million, or 7 cents per share. Revenues were $364.3 million compared with $265.9 million.
Crown American Realty Trust, a Johnstown, Pa., real estate investment trust operating New River Valley Mall, reported second-quarter net income of $2.6 million, or 9 cents per share, compared with $4.2 million, or 16 cents, a year earlier. Revenues rose to $28.5 million from year-ago $27.9 million. For the first six months, net income was $4.7 million, or 17 cents per share, down from $6.2 million, or 23 cents. Revenues were $57.3 million, up from $55.6 million.
by CNB